Shell plc (SHEL) 10-Year Financial Performance & Capital Metrics

SHEL • • Industrial / General

EnergyIntegrated Oil & GasGlobal Integrated MajorsEuropean Integrated Leaders

AboutShell plc operates as an energy and petrochemical company Europe, Asia, Oceania, Africa, the United States, and Rest of the Americas. The company operates through Integrated Gas, Upstream, Marketing, Chemicals and Products, and Renewables and Energy Solutions segments. It explores for and extracts crude oil, natural gas, and natural gas liquids; markets and transports oil and gas; produces gas-to-liquids fuels and other products; and operates upstream and midstream infrastructure to deliver gas to market. The company also markets and trades natural gas, liquefied natural gas (LNG), crude oil, electricity, carbon-emission rights; and markets and sells LNG as a fuel for heavy-duty vehicles. In addition, it trades in and refines crude oil and other feed stocks, such as low-carbon fuels, lubricants, bitumen, sulphur, gasoline, diesel, aviation fuel, and marine fuel; produces and sells petrochemicals for industrial use; and manages oil sands activities. Further, the company produces base chemicals comprising ethylene, propylene, and aromatics, as well as intermediate chemicals, such as styrene monomer, propylene oxide, solvents, detergent alcohols, ethylene oxide, and ethylene glycol. Additionally, it generates electricity through wind and solar resources; produces and sells hydrogen; and provides electric vehicle charging services. The company was formerly known as Royal Dutch Shell plc and changed its name to Shell plc in January 2022. Shell plc was founded in 1907 and is headquartered in London, the United Kingdom.Show more

Revenue $284.31B -10.2%
EBITDA $56.86B +5.6%
Net Income $16.09B -16.9%
EPS (Diluted) 5.06 -11.2%
Gross Margin 16.16% +8.4%
EBITDA Margin 20% +17.6%
Operating Margin 10.55% +8.7%
Net Margin 5.66% -7.4%
ROE 8.73% -14.1%
ROIC 10.01% +1.5%
Debt/Equity 0.43 -1.2%
Interest Coverage 6.17 -7.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Healthy dividend yield of 3.7%
✓Share count reduced 6.4% through buybacks
✓Trading at only 1.3x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-3.85%

5Y-3.79%

3Y2.83%

TTM-9.47%

Profit (Net Income) CAGR

10Y0.67%

5Y0.31%

3Y-7.14%

TTM-6.64%

EPS CAGR

10Y0.61%

5Y5.35%

3Y-0.52%

TTM-1.23%

ROCE

10Y Avg5.98%

5Y Avg7.77%

3Y Avg13.23%

Latest9.94%

Peer Comparison

European Integrated Leaders

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BPBP p.l.c.	90.33B	35.15	251.07	-9.2%	0.81%	1.96%	13.28%	0.91
EEni S.p.A.	56.41B	38.19	23.29	-5.25%	2.89%	4.62%	9.03%	0.63
SHELShell plc	208.21B	73.42	14.51	-10.2%	5.43%	8.21%	16.85%	0.43
TTETotalEnergies SE	140.7B	65.67	9.82	-10.66%	7.72%	12.03%	11.33%	0.45
EQNREquinor ASA	61.71B	24.70	7.94	-4.07%	5.35%	14.11%	12.85%	0.71

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	264.96B	233.59B	305.18B	388.38B	344.88B	180.54B	261.5B	381.31B	316.62B	284.31B
Revenue Growth %	-0.37%	-0.12%	0.31%	0.27%	-0.11%	-0.48%	0.45%	0.46%	-0.17%	-0.1%
Cost of Goods Sold+	249.45B	216B	276.32B	343.5B	308.12B	193.54B	225.66B	302.54B	269.41B	238.37B
COGS % of Revenue	0.94%	0.92%	0.91%	0.88%	0.89%	1.07%	0.86%	0.79%	0.85%	0.84%
Gross Profit+	15.51B	17.59B	28.86B	44.88B	36.76B	-12.99B	35.85B	78.78B	47.21B	45.94B
Gross Margin %	0.06%	0.08%	0.09%	0.12%	0.11%	-0.07%	0.14%	0.21%	0.15%	0.16%
Gross Profit Growth %	-0.61%	0.13%	0.64%	0.56%	-0.18%	-1.35%	3.76%	1.2%	-0.4%	-0.03%
Operating Expenses+	18.77B	15.22B	13.38B	13.69B	13.81B	12.54B	13.57B	15.67B	16.47B	15.95B
OpEx % of Revenue	0.07%	0.07%	0.04%	0.04%	0.04%	0.07%	0.05%	0.04%	0.05%	0.06%
Selling, General & Admin	11.96B	12.1B	10.51B	11.36B	10.49B	9.88B	11.33B	12.88B	13.43B	12.44B
SG&A % of Revenue	0.05%	0.05%	0.03%	0.03%	0.03%	0.05%	0.04%	0.03%	0.04%	0.04%
Research & Development	1.09B	1.01B	922M	986M	962M	907M	815M	1.07B	1.29B	1.1B
R&D % of Revenue	0%	0%	0%	0%	0%	0.01%	0%	0%	0%	0%
Other Operating Expenses	5.72B	2.11B	1.95B	1.34B	2.35B	1.75B	1.42B	1.71B	1.75B	2.41B
Operating Income+	-3.26B	2.37B	15.48B	31.19B	22.95B	-25.53B	22.28B	63.11B	30.74B	29.99B
Operating Margin %	-0.01%	0.01%	0.05%	0.08%	0.07%	-0.14%	0.09%	0.17%	0.1%	0.11%
Operating Income Growth %	-1.16%	1.73%	5.54%	1.01%	-0.26%	-2.11%	1.87%	1.83%	-0.51%	-0.02%
EBITDA+	23.45B	27.36B	41.7B	52.89B	48.05B	-549M	45.35B	85.5B	53.84B	56.86B
EBITDA Margin %	0.09%	0.12%	0.14%	0.14%	0.14%	-0%	0.17%	0.22%	0.17%	0.2%
EBITDA Growth %	-0.47%	0.17%	0.52%	0.27%	-0.09%	-1.01%	83.61%	0.89%	-0.37%	0.06%
D&A (Non-Cash Add-back)	26.71B	24.99B	26.22B	21.7B	25.11B	24.98B	23.07B	22.39B	23.11B	26.87B
EBIT	3.97B	9.11B	22.06B	39.2B	30.04B	-22.76B	33.44B	70.16B	37.26B	34.78B
Net Interest Income+	-1.52B	-3.05B	-3.02B	-2.7B	-3.48B	-3.53B	-3.07B	-4.3B	-2.06B	-2.4B
Interest Income	402M	451M	904M	876M	1.08B	679M	539M	1.05B	2.57B	2.46B
Interest Expense	1.93B	3.5B	3.93B	3.58B	4.56B	4.21B	3.61B	5.35B	4.63B	4.86B
Other Income/Expense	5.31B	3.24B	2.65B	4.43B	2.54B	-1.44B	7.55B	1.71B	1.89B	-70M
Pretax Income+	2.05B	5.61B	18.13B	35.62B	25.48B	-26.97B	29.83B	64.81B	32.63B	29.92B
Pretax Margin %	0.01%	0.02%	0.06%	0.09%	0.07%	-0.15%	0.11%	0.17%	0.1%	0.11%
Income Tax+	-153M	829M	4.7B	11.71B	9.05B	-5.43B	9.2B	21.94B	12.99B	13.4B
Effective Tax Rate %	0.95%	0.82%	0.72%	0.66%	0.62%	0.8%	0.67%	0.65%	0.59%	0.54%
Net Income+	1.94B	4.58B	12.98B	23.35B	15.84B	-21.68B	20.1B	42.31B	19.36B	16.09B
Net Margin %	0.01%	0.02%	0.04%	0.06%	0.05%	-0.12%	0.08%	0.11%	0.06%	0.06%
Net Income Growth %	-0.87%	1.36%	1.84%	0.8%	-0.32%	-2.37%	1.93%	1.1%	-0.54%	-0.17%
Net Income (Continuing)	2.2B	4.78B	13.44B	23.91B	16.43B	-21.53B	20.63B	42.87B	19.64B	16.52B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	1.25B	1.86B	3.46B	3.89B	3.99B	3.23B	3.36B	2.13B	1.75B	1.86B
EPS (Diluted)+	0.60	1.16	3.12	5.60	3.90	-5.56	5.14	11.42	5.70	5.06
EPS Growth %	-0.87%	0.93%	1.69%	0.79%	-0.3%	-2.43%	1.92%	1.22%	-0.5%	-0.11%
EPS (Basic)	0.62	1.16	3.16	5.64	3.94	-5.56	5.18	11.52	5.76	5.10
Diluted Shares Outstanding	3.2B	3.95B	4.15B	4.17B	4.06B	3.9B	3.9B	3.71B	3.4B	3.18B
Basic Shares Outstanding	3.16B	3.92B	4.11B	4.14B	4.03B	3.9B	3.88B	3.67B	3.31B	3.15B
Dividend Payout Ratio	4.83%	2.12%	0.84%	0.67%	0.96%	-	0.31%	0.18%	0.43%	0.54%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	93.36B	86.57B	95.4B	97.48B	92.69B	91.95B	128.76B	165.94B	134.12B	127.93B
Cash & Short-Term Investments	31.75B	19.13B	20.31B	26.74B	18.05B	31.83B	36.97B	40.25B	38.77B	39.11B
Cash Only	31.75B	19.13B	20.31B	26.74B	18.05B	31.83B	36.97B	40.25B	38.77B	39.11B
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	22.71B	25.77B	30.72B	27.54B	30.43B	21.97B	34.95B	39.54B	36.46B	31.23B
Days Sales Outstanding	31.29	40.26	36.74	25.88	32.2	44.41	48.78	37.85	42.03	40.09
Inventory	15.82B	21.77B	25.22B	21.12B	24.07B	19.46B	25.26B	31.89B	26.02B	23.43B
Days Inventory Outstanding	23.15	36.8	33.32	22.44	28.51	36.69	40.86	38.48	35.25	35.87
Other Current Assets	19.81B	15.69B	15.21B	16.73B	15.85B	15.02B	22.62B	39.75B	26.7B	28.45B
Total Non-Current Assets+	246.8B	324.71B	311.69B	301.71B	311.65B	287.31B	275.61B	277.09B	272.15B	259.68B
Property, Plant & Equipment	182.84B	236.1B	226.38B	223.18B	238.35B	209.7B	194.93B	198.64B	194.84B	185.22B
Fixed Asset Turnover	1.45x	0.99x	1.35x	1.74x	1.45x	0.86x	1.34x	1.92x	1.63x	1.54x
Goodwill	2.01B	12.99B	13.66B	13.72B	14.21B	14.04B	14.92B	16.04B	16.66B	16.03B
Intangible Assets	4.27B	10.98B	10.52B	9.87B	9.28B	8.67B	9.77B	9.66B	10.25B	9.48B
Long-Term Investments	33.57B	39.21B	35.15B	28.4B	25.8B	25.67B	27.21B	27.23B	27.7B	25.7B
Other Non-Current Assets	24.11B	25.43B	25.98B	26.55B	24.02B	29.23B	28.78B	25.52B	22.7B	23.25B
Total Assets+	340.16B	411.27B	407.1B	399.19B	404.34B	379.27B	404.38B	443.02B	406.27B	387.61B
Asset Turnover	0.78x	0.57x	0.75x	0.97x	0.85x	0.48x	0.65x	0.86x	0.78x	0.73x
Asset Growth %	-0.04%	0.21%	-0.01%	-0.02%	0.01%	-0.06%	0.07%	0.1%	-0.08%	-0.05%
Total Current Liabilities+	70.95B	73.83B	79.77B	77.81B	79.62B	73.71B	95.55B	121.31B	95.47B	95.03B
Accounts Payable	23.8B	28.07B	33.2B	30.35B	29.5B	22.66B	34.14B	42.63B	34.59B	29.77B
Days Payables Outstanding	34.82	47.43	43.85	32.25	34.94	42.74	55.22	51.43	46.86	45.58
Short-Term Debt	5B	8.36B	10.71B	9.11B	10.11B	12.76B	4.08B	4.62B	5.37B	6.94B
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	27.38B	21.26B	20.57B	23.02B	21.12B	22.19B	38.23B	51.13B	34.31B	38.67B
Current Ratio	1.32x	1.17x	1.20x	1.25x	1.16x	1.25x	1.35x	1.37x	1.40x	1.35x
Quick Ratio	1.09x	0.88x	0.88x	0.98x	0.86x	0.98x	1.08x	1.10x	1.13x	1.10x
Cash Conversion Cycle	19.62	29.63	26.21	16.07	25.78	38.36	34.41	24.89	30.42	30.38
Total Non-Current Liabilities+	105.09B	148.94B	129.52B	118.85B	134.25B	147.02B	133.51B	129.12B	122.44B	112.41B
Long-Term Debt	47.2B	69.26B	59.43B	53.69B	55.78B	66.84B	57.5B	51.53B	48.56B	41.5B
Capital Lease Obligations	5.65B	13.74B	14.44B	13B	25.58B	24.28B	23.37B	23.26B	23.07B	23.99B
Deferred Tax Liabilities	0	0	0	0	0	10.46B	0	16.19B	15.35B	13.51B
Other Non-Current Liabilities	52.24B	65.95B	55.65B	52.16B	52.89B	45.45B	52.64B	37.88B	35.25B	33.22B
Total Liabilities	176.04B	222.76B	209.28B	196.66B	213.87B	220.73B	229.05B	250.43B	217.91B	207.44B
Total Debt+	58.38B	92.48B	85.67B	76.82B	96.42B	108.01B	89.09B	83.8B	81.64B	77.14B
Net Debt	26.63B	73.35B	65.35B	50.08B	78.37B	76.18B	52.12B	43.55B	42.87B	38.03B
Debt / Equity	0.36x	0.49x	0.43x	0.38x	0.51x	0.68x	0.51x	0.44x	0.43x	0.43x
Debt / EBITDA	2.49x	3.38x	2.05x	1.45x	2.01x	-	1.96x	0.98x	1.52x	1.36x
Net Debt / EBITDA	1.14x	2.68x	1.57x	0.95x	1.63x	-	1.15x	0.51x	0.80x	0.67x
Interest Coverage	-1.69x	0.68x	3.94x	8.72x	5.03x	-6.06x	6.18x	11.80x	6.64x	6.17x
Total Equity+	164.12B	188.51B	197.81B	202.53B	190.46B	158.54B	175.33B	192.6B	188.36B	180.17B
Equity Growth %	-0.05%	0.15%	0.05%	0.02%	-0.06%	-0.17%	0.11%	0.1%	-0.02%	-0.04%
Book Value per Share	51.34	47.77	47.67	48.52	46.96	40.67	44.92	51.98	55.40	56.62
Total Shareholders' Equity	162.88B	186.65B	194.36B	198.65B	186.48B	155.31B	171.97B	190.47B	186.61B	178.31B
Common Stock	546M	683M	696M	685M	657M	651M	641M	584M	544M	510M
Retained Earnings	180.1B	175.57B	177.65B	182.61B	172.43B	142.62B	153.03B	169.48B	165.91B	158.83B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-17.92B	10.24B	15.86B	15.2B	13.23B	11.89B	18.14B	20.25B	19.99B	18.81B
Minority Interest	1.25B	1.86B	3.46B	3.89B	3.99B	3.23B	3.36B	2.13B	1.75B	1.86B

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	29.81B	20.61B	35.65B	53.09B	42.18B	34.1B	45.1B	68.41B	54.19B	54.69B
Operating CF Margin %	0.11%	0.09%	0.12%	0.14%	0.12%	0.19%	0.17%	0.18%	0.17%	0.19%
Operating CF Growth %	-0.34%	-0.31%	0.73%	0.49%	-0.21%	-0.19%	0.32%	0.52%	-0.21%	0.01%
Net Income	2.2B	4.78B	18.13B	35.62B	25.48B	-26.97B	29.83B	64.81B	32.63B	29.92B
Depreciation & Amortization	26.71B	24.99B	26.22B	21.7B	25.11B	24.98B	23.07B	22.39B	23.11B	26.87B
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	-4.63B	-729M	-6.45B	-7.68B	-3.64B	31.48B	2.57B	-13.36B	-9.38B	-4.17B
Working Capital Changes	5.52B	-8.43B	-2.25B	3.44B	-4.78B	4.61B	-10.37B	-5.43B	7.84B	2.06B
Change in Receivables	9.85B	-4.13B	-2.58B	1.96B	-921M	9.63B	-20.57B	-8.99B	12.4B	6.58B
Change in Inventory	2.83B	-5.66B	-2.08B	2.82B	-2.63B	4.48B	-7.32B	-8.36B	6.33B	1.27B
Change in Payables	0	0	0	0	0	0	0	0	0	0
Cash from Investing+	-22.41B	-30.96B	-8.03B	-13.66B	-15.78B	-13.28B	-4.76B	-22.45B	-17.73B	-15.15B
Capital Expenditures	-26.13B	-22.12B	-20.84B	-23.01B	-22.97B	-16.59B	-19B	-22.6B	-22.99B	-19.6B
CapEx % of Revenue	0.1%	0.09%	0.07%	0.06%	0.07%	0.09%	0.07%	0.06%	0.07%	0.07%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-21.79B	-19.78B	-9.61B	8.64B	5.07B	3.03B	14.06B	1.76B	6.13B	4.53B
Cash from Financing+	3.81B	-771M	-27.09B	-32.55B	-35.21B	-7.22B	-34.66B	-41.95B	-38.23B	-38.43B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-9.37B	-9.68B	-10.88B	-15.68B	-15.2B	-7.42B	-6.25B	-7.41B	-8.39B	-8.67B
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-1.26B	-2.01B	-3.66B	-3.48B	-5.24B	-3.3B	-5.51B	-7.65B	-4.5B	-5.46B
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	3.68B	-1.5B	14.8B	30.07B	19.21B	17.52B	26.11B	45.81B	31.2B	35.08B
FCF Margin %	0.01%	-0.01%	0.05%	0.08%	0.06%	0.1%	0.1%	0.12%	0.1%	0.12%
FCF Growth %	-0.72%	-1.41%	10.86%	1.03%	-0.36%	-0.09%	0.49%	0.75%	-0.32%	0.12%
FCF per Share	1.15	-0.38	3.57	7.20	4.74	4.49	6.69	12.36	9.18	11.03
FCF Conversion (FCF/Net Income)	15.37x	4.51x	2.75x	2.27x	2.66x	-1.57x	2.24x	1.62x	2.80x	3.40x
Interest Paid	0	0	0	0	0	0	0	0	0	4.56B
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	1.15%	2.59%	6.72%	11.67%	8.06%	-12.42%	12.04%	23%	10.16%	8.73%
Return on Invested Capital (ROIC)	-1.26%	0.78%	4.42%	9.07%	6.6%	-7.61%	7.23%	20.42%	9.86%	10.01%
Gross Margin	5.85%	7.53%	9.46%	11.55%	10.66%	-7.2%	13.71%	20.66%	14.91%	16.16%
Net Margin	0.73%	1.96%	4.25%	6.01%	4.59%	-12.01%	7.69%	11.1%	6.11%	5.66%
Debt / Equity	0.36x	0.49x	0.43x	0.38x	0.51x	0.68x	0.51x	0.44x	0.43x	0.43x
Interest Coverage	-1.69x	0.68x	3.94x	8.72x	5.03x	-6.06x	6.18x	11.80x	6.64x	6.17x
FCF Conversion	15.37x	4.51x	2.75x	2.27x	2.66x	-1.57x	2.24x	1.62x	2.80x	3.40x
Revenue Growth	-37.08%	-11.84%	30.65%	27.26%	-11.2%	-47.65%	44.84%	45.82%	-16.97%	-10.2%

Revenue by Segment

	2017	2018	2019	2020	2021	2022	2023	2024
Oil Products	-	-	-	-	-	-	-	129.55B
Oil Products Growth	-	-	-	-	-	-	-	-
Crude Oil	-	-	-	-	-	-	-	40.63B
Crude Oil Growth	-	-	-	-	-	-	-	-
Power	-	-	-	-	-	-	-	11.57B
Power Growth	-	-	-	-	-	-	-	-
Lubricants	-	-	-	-	-	-	-	11.51B
Lubricants Growth	-	-	-	-	-	-	-	-
Chemical Products	-	-	-	-	-	-	-	8.53B
Chemical Products Growth	-	-	-	-	-	-	-	-

Revenue by Geography

	2017	2018	2019	2020	2021	2022	2023	2024
Asia Oceania And Africa	114.68B	153.72B	139.92B	65.14B	87.07B	126.64B	99.97B	98.34B
Asia Oceania And Africa Growth	-	34.04%	-8.98%	-53.44%	33.67%	45.45%	-21.06%	-1.62%
Europe	100.61B	118.96B	98.45B	50.14B	78.55B	135.97B	118.14B	92.48B
Europe Growth	-	18.24%	-17.24%	-49.08%	56.67%	73.11%	-13.12%	-21.72%
UNITED STATES	66.85B	89.88B	83.21B	50.86B	73.65B	87.08B	70.29B	65.09B
UNITED STATES Growth	-	34.44%	-7.41%	-38.88%	44.81%	18.25%	-19.28%	-7.40%
Other Americas	23.03B	25.83B	23.29B	14.41B	22.24B	31.61B	28.23B	28.4B
Other Americas Growth	-	12.13%	-9.81%	-38.14%	54.32%	42.15%	-10.71%	0.61%
SINGAPORE	-	-	84.28B	-	-	-	-	-
SINGAPORE Growth	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Shell plc (SHEL) has a price-to-earnings (P/E) ratio of 14.5x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Shell plc (SHEL) reported $268.66B in revenue for fiscal year 2024. This represents a 43% decrease from $470.17B in 2011.

Shell plc (SHEL) saw revenue decline by 10.2% over the past year.

Yes, Shell plc (SHEL) is profitable, generating $14.60B in net income for fiscal year 2024 (5.7% net margin).

Dividend & Returns

Yes, Shell plc (SHEL) pays a dividend with a yield of 3.71%. This makes it attractive for income-focused investors.

Shell plc (SHEL) has a return on equity (ROE) of 8.7%. This is below average, suggesting room for improvement.

Shell plc (SHEL) generated $25.94B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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